The committee resumed its consideration of the KPFK
draft FY14 budget proposal. The committee included in its discussions consideration of the “minority report” that
questioned some of the numbers that had been presented to the NFC. The CFO said that in th next couple of days he should
be able to send preliminary Profit & Loss statements to the Managers and the LSBs. The CFO said that KPFK’s “Listener
Support” through July, is $2,687,773 vs. $2.563M budgeted, Premiums cost is $440,424 vs. $252,484 budgeted. The CFO said
that the National Office is trying to update Depreciation and he estimates that it amounts to about $59,770 which
suggests about $5,900 a month for that item. Premium shipping cost is $70,500 to the end of July. The CFO said that
“Salaries and Related” through July was budgeted for $1,174,458 and other related expenses were about $296,850. The Year
to Date budget for Salaries and Related is $1.317M, about $150,000 over budget. The overage is mostly due to taxes and
benefits.

The committee discussed premium and development related costs and the ratio of premium cost to the
station to the prices set for obtaining premiums. The nature of the premiums offered was also
discussed.